May 7, 2010 - Statistics Canada’s Employment report for the month of April shows an astonishing increase of 109,000 jobs during the month April. This tremendous increase surpasses any analysts’ previous expectations by more than 100% and supports the theory that the Canadian Staffing Industry Index is an early indicator of job and employment activity in the Canadian economy.
During the month of April, the Association of Canadian Search, Employment and Staffing Services reported that the Staffing Industry Index for March increased 11% over February 2010; the largest single month gain since the creation of the report.
ACSESS believes there is a close correlation between staffing industry performance and the real-time state of the economy. The Canadian Staffing Index can be used as a barometer of Canadian economic performance and a predictor of other lagging economic indicators such as the Statistics Canada Employment Report
The Staffing Industry Index uses July 2008, prior to the recession, as the benchmark index of 100 and tracks the performance of the staffing industry on a monthly basis.
In an earlier press release I stated "Although some of the increased numbers reflect a seasonal correction, the recovery that seemed to have stalled in December is now gaining momentum. We predict that April results will display another notable increase. Our industry is a leading indicator of economic performance, and we are confident in the ability of Canada's economy to show moderate but consistent growth throughout the balance of the year", Said Steve Jones, ACSESS National President.
Statistics Canada reports that unemployment in April fell from 8.2% to 8.1%. Full Report
Canadian Staffing Index Not Seasonally Adjusted
Jul-08 - 100 (indexed to July 2008)
Aug-08 - 97
Sep-08 - 99
Oct-08 - 107
Nov-08 - 94
Dec-08 - 81
Jan-09 - 75
Feb-09 - 67
Mar-09 - 71
Apr-09 - 70
May-09 - 65
Jun-09 - 68
Jul-09 - 73
Aug-09 - 70
Sep-09 - 78
Oct-09 - 78
Nov-09 - 77
Dec-09 - 74
Jan-10 - 69
Feb-10 - 71
Mar-10 - 82
About the Canadian Staffing Index:
The data is collected by Staffing Industry Analysts, an independent company specialized in the staffing industry.
The data is provided by a representative number of Canadian staffing companies providing services in the provinces across the country.
The data is collected on a monthly basis, with the initial data capture dating back to July 2008, providing real historical insight into the Canadian staffing landscape.
About ACSESS
ACSESS is the single voice for promoting best practices and ethical standards for the recruitment, employment and staffing services industry in Canada. For more information visit: www.acsess.org
About Staffing Industry Analysts
Staffing Industry Analysts is the premier research and analysis firm covering temporary employment and the contingent workforce. Known for its independent and objective insights, the company’s proprietary research, data, support tools, publications and executive conferences provide a competitive edge to decision-makers who supply and buy temporary staffing. In addition to temporary staffing, Staffing Industry Analysts also covers these related staffing sectors: third party placement, and staff leasing (PEOs). Founded in 1989, the company is headquartered in Los Altos, California. For more information visit: www.staffingindustry.com
Media Contact:
Suzanne McInerney, CPC
Communications and Marketing Specialist
Phone 905-826-6869 / Toll Free: 1-888-232-4962
Email: smcinerney@acsess.org
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